Jerusalem, Dec 26 (IANS): Israel's exports have registered a year-on-year increase of 10 per cent in 2022 to reach a record high of over $160 billion, according to estimates issued by the Ministry of Economy and Industry.

It is the second consecutive year that exports, which make up about a third of Israel's economy, reached a record-high level, Xinhua news agency reported, citing a statement by the ministry.

Israel's main export partners are the US, the UK, China, India, Ireland and the Netherlands, it adds.

Continuing a trend that began in 2021, the export of services in 2022 exceeded the export of goods, with services accounting for about 51 percent of all Israeli exports. Programming service constitutes 42 per cent of the exported services, while research and development services account for 14 per cent of the exported services.

The export of goods also grew significantly, registering an increase of about 15 per cent compared to that of 2021. The most significant growth in the export of goods was seen in the chemical industry products, diamonds, and electrical and mechanical equipment.

"The Israeli economy maintained stability and growth this year as well, thus enabling Israeli industry to meet a variety of challenges," the statement quoted Economy and Industry Minister Orna Barbivai as saying.